August 12, 1997
(Mines and Energy)

Minister appoints long time professional electrical engineer to 
complete independent study of Hydro proposals

Charles J. Furey, Minister of Mines and Energy, announced today that Wallace Read has been appointed to complete an independent assessment of Newfoundland and Labrador Hydro's (Hydro) short list of hydroelectric and thermal electric generating options for Voisey's Bay Nickel Company's (VBNC) nickel smelter and refinery complex in Argentia.

"I am confident in the recommendations made by Newfoundland and Labrador Hydro officials. However, since Hydro has projects of its own on the list of proposals, I want an independent review of these recommendations to avoid even a perception of a conflict of interest on the part of Hydro," says Furey. "It is important for all members of the private sector that submitted proposals, and also for Voisey's Bay Nickel Company which will be paying the full cost of generation of the electricity, to be confident that the best decisions are made."

VBNC will require 200 Megawatts of electricity to operate its nickel smelter and refinery complex. Twenty-three expressions of interest were received from industry and Hydro submitted four additional proposals which included both hydraulic and thermal generating plants. Fifteen final proposals were evaluated based on reliability and cost.

"Mr. Read holds a Bachelor of (electrical) Engineering degree and has worked in the pulp and paper and the electric utility industry during his professional career," says Furey. "Earlier in his career, Mr. Read held senior positions with Newfoundland and Labrador Hydro and the Lower Churchill Development Corporation. Most recently, Mr. Read served as the President of the Canadian Electricity Association and as a Commissioner of the Public Utilities Board which makes him an excellent candidate to assess Hydro's proposals."

Read will submit his assessment to the Mr. Furey in late September and the minister will take it to cabinet for review. Following a review by cabinet, the minister will make the results of the assessment public and available to VBNC.

Following is a copy of Mr. Read's biography.

Contact:Tara Laing, Communications, (709) 729-4890

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Mr. Wallace Read
Biography

Wallace S. Read is currently serving the Institute of Electrical and Electronics Engineers (IEEE) in the office of past president, having completed his presidential term in 1996.

Born in Newfoundland, Read received his Bachelor of Engineering from Nova Scotia Technical College in 1951 before entering the pulp and paper and hydro-electric power industries in his native province. Between 1964 and 1984, he held senior position with Newfoundland and Labrador Hydro including President of Churchill Falls (Labrador) Corporation, and President and Chief Executive Officer of the Lower Churchill Development Corporation.

In 1985, he joined the Canadian Electrical Association (CEA) serving as its first full-time President. In that position, Read worked to promote the interests of electric utilities and the customers they serve and acted as spokesperson on issues of natural concern to the electric utility industry. Upon retirement from CEA in 1995, Read accepted an appointment as Commissioner on the Public Utilities Board of Newfoundland and Labrador. His volunteer time is filed with IEEE service and as Chairman of the Canadian Centre for Marine Communications (CCMC).

His professional affiliations include being a Life Member of the Association of Professional Engineers and Geoscientists of Newfoundland, a Fellow of the Engineering Institute of Canada and a Fellow of IEEE.

Over the years, he has received numerous awards including IEEE's General A.G.L. McNaughton Gold Medal, the Engineering Institute of Canada's Julian C. Smith Medal, the Canadian Electricity Association's distinguished Service Award, the Canadian Standard Association's John Jenkins Award and the IEEE Power Engineering Society's Power Life Award.

In addition to these, Doctor of Engineering Degree (Honoris Causa) were conferred upon him by the Technical University of Nova Scotia in 1992 and by Memorial University of Newfoundland in 1996.